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Score

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/10
The WikiFX Score of this broker is reduced because of too many complaints!

MSG

Singapore|5-10 years|
MT4 Full License|Regional Brokers|United States Common Financial Service License Unauthorized|Suspicious Overrun|High potential risk|

https://www.msgtrader.com/en/

Website

Rating Index

MT4/5 Identification

MT4/5

Full License

MasterSelectGroup-Live

MT4
6

Influence

C

Influence index NO.1

Taiwan 2.84
The WikiFX Score of this broker is reduced because of too many complaints!

MT4/5 Identification

MT4/5 Identification

Full License

6
Server Name
MasterSelectGroup-Live MT4
Server Location

Influence

Influence

C

Influence index NO.1

Taiwan 2.84

Surpassed 77.09% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

cs@msgtrader.com
https://www.msgtrader.com/en/
https://www.facebook.com/msgforex/
https://twitter.com/msgforex

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

Other ways of contact

Broker Information

More

Company Name

MASTER SELECT GROUP LIMITED

Abbreviation

MSG

Platform registered country and region

Singapore

Company website
Twitter
Facebook
Instagram
YouTube

Pyramid scheme complaint

Expose

Check whenever you want

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Warning: Low score, please stay away! 4
Previous Detection : 2024-07-27
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 30 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • United StatesNFA (license number: 0558525) The regulatory status is abnormal, the official regulatory status is Unauthorized. Please be aware of the risk!
  • This broker exceeds the business scope regulated by United States NFA(license number: 0558525)National Futures Association-UNFX Non-Forex License. Please be aware of the risk!

WikiFX Verification

MSG · WikiFX Survey

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MSG · Company Summary

Company Summary

Company profile

General Information & Regulation

MASTER SELECT GROUP (MSG, for short) is an online broker that provides online trading services to investors worldwide. MSG currently holds a retail foreign exchange license from the Vanuatu VFSC (license number: 40378).

Market Instruments

MSG provides investors with financial trading products such as foreign exchange, precious metals, crude oil, indices, US stocks, and cryptocurrencies.

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Minimum Deposit

MSG offers all investors a trading account with a minimum deposit of $500, a high amount for most regular traders to get started.

MSG Leverage

In respect to trading leverage, this part is not fully disclosed. According MSG customer service staff, the trading leverage differs depending on various instruments.

Spreads & Commissions

As spreads listed on MSG website, they are super high. The spread on EURUSD, GBPUSD, AUDUSD pairs is as high as 30 pips, 50 pips for XAUUSD, 4 pips for XAGUSD, and 5 pips for Crude Oil. Most legit brokers offer the spread on EURUSD around 1 pip to 1. 5 pips. So here, we can judge MSG is not a legit broker, and traders should stay away from this broker.

image.png

Trading Platforms

MSG provides investors with the market-leading and widely acclaimed MT4 trading platform, as well as MT4 Windows, MT4 iOS, and MT4 Android versions. The platform offers traders a wide range of trade execution features, unlimited charts, rich technical indicators and curves, custom indicators, and scripts to support traders in implementing any easy or complex trading strategy.

Deposit & Withdrawal

MSG supports traders to deposit and withdraw funds to their investment accounts via credit card, wire transfer, and USDT cryptocurrency.

MSG Review Summary
Founded 5-10 years
Registered Country/Region Singapore
Regulation NFA (General registration)
Market Instruments Forex, stock CFD, commodity, metals, cryptos, index
Demo Account Unavailable
Leverage Not mentioned
EUR/ USD Spread Not mentioned
Trading Platform MT4
Minimum Deposit $100
Customer Support 24/5 email, Twitter, Facebook, Instagram and YouTube, live chat

What is MSG?

MSG offers a diverse range of trading instruments across various asset classes. Clients have the option to open live accounts, with a minimum deposit requirement of $100. The platform provides access to MT4. And customer service can be available 24/5 through live chat and email.

MSG's home page

In the following article, we will analyse the characteristics of this broker in all its dimensions, providing you with easy and well-organised information. If you are interested, read on.

Pros & Cons

Pros Cons
• A range of trading instruments • No 24/7 customer support
• MT4 supported • Limited information about leverage and commission
• Long years experience • No demo account available
• Live chat available
• Educational resources and FAQs for self-help

MSG Alternative Brokers

There are many alternative brokers to MSG depending on the specific needs and preferences of the trader. Some popular options include:

  • Eightcap – Atrusted broker that offers competitive trading conditions, including tight spreads, flexible account options, and a user-friendly trading platform, making it a top choice for both beginner and experienced traders looking for a seamless trading experience.

  • AETOS - A global forex and CFD broker providing competitive trading services and advanced trading platforms to traders worldwide.

  • TigerWit - An innovative trading platform that combines social trading with cutting-edge technology, enabling users to trade various financial markets and follow successful traders' strategies.

Is MSG Legit?

Currently, MSG has been registered with the National Futures Assoication (NFA) under regulatory license number 0558525, which can give traders more confidence when trading with this broker.

NFA regulation

Market Instruments

MSG offers a wide range of trading instruments across various asset classes. Here are the different types available:

  • Forex: MSG provides trading opportunities in the global currency market, allowing you to trade currency pairs like EUR/USD, GBP/JPY, etc.

  • Stock CFDs: Contract for Difference (CFD) enables you to speculate on the price movements of individual stocks without owning the actual shares. MSG offers a selection of stock CFDs from different companies.

  • Commodity/Metal: You can trade CFDs on various commodities and metals, such as gold, silver, crude oil, natural gas, etc., allowing you to speculate on their price fluctuations.

  • Crypto Currency: MSG provides access to the exciting world of cryptocurrencies, allowing you to trade popular digital currencies like Bitcoin, Ethereum, Litecoin, etc.

  • Index: MSG offers trading opportunities in stock market indices, such as the S&P 500, Dow Jones Industrial Average, NASDAQ, FTSE 100, etc. This enables you to trade the overall performance of a particular market.

Market Instruments

Accounts

MSG offers live account for their clients and the minimum deposit is $100. To open a live account, traders will be required to register their profiles by clicking on any of the “open live account” buttons. This step is necessary to initiate the process of opening a live trading account with MSG.

Accounts

Trading Platform

MSG provides its clients with the popular MetaTrader 4 (MT4) trading platform. MT4 is a powerful and widely-used platform in the financial industry, known for its user-friendly interface, advanced charting tools, and comprehensive trading capabilities.

With the MT4 platform, traders have access to a wide range of features and tools to enhance their trading experience. The platform allows for real-time price quotes, a variety of order types, and advanced trading execution. Traders can easily monitor their positions, manage their trades, and analyze market trends using the extensive charting package available.

Another noteworthy feature of MT4 is its mobile compatibility. Traders can access their trading accounts and trade on the go using the MT4 mobile app, available for both iOS and Android devices. This ensures that traders can stay connected to the markets and manage their positions anytime and anywhere.

MT4

See the trading platform comparison table below:

Broker Trading Platform
MSG MT4
Eightcap MT4, MT5
AETOS MT4
TigerWit WebTrader, Mobile App

Deposits & Withdrawals

MSG provides a wide range of payment options for both deposits and withdrawals, ensuring convenience and flexibility for its clients.

MSG accepts deposits and withdrawals through credit card solutions, allowing traders to use their credit or debit cards for transactions. This option offers a quick and straightforward process, enabling traders to fund their accounts or withdraw funds efficiently.

Additionally, MSG supports multiple electronic payment methods, making it convenient for traders to transfer funds electronically. These electronic payment methods may include popular e-wallets or online payment platforms, providing a secure and efficient way to deposit and withdraw funds.

For those interested in utilizing cryptocurrencies, MSG also accepts payments in cryptocurrency. This option allows traders to deposit and withdraw funds using popular cryptocurrencies, such as Bitcoin or Ethereum, providing an additional layer of flexibility and anonymity for transactions.

MSG minimum deposit vs other brokers

MSG Most other
Minimum Deposit $100 $100

Educational Resources

MSG offers a comprehensive Trading Academy that provides educational resources to enhance traders' knowledge and skills. The academy covers a wide range of topics to help both beginner and experienced traders improve their understanding of the financial markets and trading strategies.

The academy includes introductory courses on various trading platforms, such as MT4 and MT5. These courses provide detailed explanations of the platforms' features and functionalities, helping traders navigate and utilize the full potential of these popular trading platforms.

Trading Academy

Customer Service

MSG offers live chat. With live chat, customers can get their questions answered quickly and receive help with any issues they may have. It's a convenient and effective communication channel that can improve customer satisfaction and increase sales.

Customers can visit their office or get in touch with customer service line using the information provided below:

Email: support@msgforex.com

Moreover, clients could get in touch with this broker through the social media, such as Twitter, Facebook, Instagram and YouTube.

Twitter: https://twitter.com/msgforex

Facebook: https://www.facebook.com/msgforex/

Instagram: https://www.instagram.com/master_select_group

YouTube: https://www.youtube.com/c/msgforex

Whats more, MSG provides a Frequently Asked Questions (FAQ) section on their website to assist their clients with commonly asked questions and provide relevant information. The FAQ section aims to address common queries and concerns that investors may have regarding the company's services, processes, and investment opportunities. By offering this resource, MSG aims to provide transparency and clarity to their clients, helping them make informed decision.

FAQ

Conclusion

In conclusion, MSG is a trading platform that offers a range of services to its clients. The platform provides access to various financial markets, allowing traders to diversify their portfolios and capitalize on different trading opportunities. With its user-friendly interface and advanced charting tools, MSG's trading platform, MT4, caters to the needs of both beginner and advanced traders.

Frequently Asked Questions (FAQs)

Question 1: Is MSG regulated?
Answer 1: MSG is registered with NFA under license no. 0558525.
Question 2: How can I contact the customer support team at MSG?
Answer 2: You can contact via email, support@msgforex.com.
Question 3: Does MSG offer demo accounts?
Answer 3: No.
Question 4: Does MSG offer the industry leading MT4 & MT5?
Answer 4: Yes. It offers MT4.
Question 5: What is the minimum deposit for MSG?
Answer 5: The minimum initial deposit to open an account is $100.
Question 6: Is MSG a good broker for beginners?
Answer 6: No. It is not a good choice for beginners. Too many reports of unable to withdraw can't be overlooked.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

Review 49

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